Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Standard Life Wealth client roster hits 4,500 as it seals Newton deal

Standard Life Wealth client roster hits 4,500 as it seals Newton deal

Standard Life Wealth has completed its acquisition of Newton Private Clients, the wealth management division of the fund group.

The deal sees Standard Life Wealth increase its assets to £5.5 billion and chief executive Richard Charnock (pictured) said it provided an 'immediate step up in scale' and reinforced the firm's ambition to be a leading player in the discretionary world.

The combined entity will have a total of 4,500 high net worth and ultra high net worth clients on its books with offices in London, Birmingham, Bristol, Leeds and Edinburgh.       

The acquisition was initially announced to the market in February, when parent company Standard Life said it would take on Newton's private client division, which manages £3.6 billion in assets, though it would not bring over its multi-billion charity business as part of the deal.

Charnock said in a statement: 'This is an important acquisition for Standard Life. It provides an immediate step up in scale for Standard Life Wealth and reinforces our ambition to be a leading player in the discretionary investment management sector.

'We are delighted with the positive reaction to the acquisition from clients, introducers and colleagues, who are excited about the enhanced opportunities the combined business offers.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: 'new normal' now is as dangerous as when it was applied to tech

Profile: 'new normal' now is as dangerous as when it was applied to tech

7IM's CIO Chris Darbyshire says he has been re-energised by his new role, but has little time for 'new normal' doom-mongers

Wealth Manager on Twitter